Jan 29, 2021
Boohoo in talks over remaining Arcadia brands
Boohoo said it had entered exclusive talks with Arcadia's administrators over the acquisition of Burton, Dorothy Perkins and Wallis, a deal that would threaten thousands of jobs and could mark the final stage in the break-up of Philip Green's once-mighty fashion empire. In a brief statement just days after Boohoo confirmed the acquisition of the Debenhams department store group, it cautioned that the discussions "May or may not result in agreement of a transaction". News of the exclusive talks was first reported by Sky News, which put the likely acquisition price at about £25m. Boohoo, over the past 18 months, has become an opportunistic acquirer of brands that have run into trouble and would extend its reach beyond its core market of young trend-conscious female buyers. "These acquisitions would be very much consistent with Boohoo's successful approach to date, and we would view the brands as a good fit within the group," he said in a note to clients. Asos is in exclusive talks over the acquisition of the Topshop, Topman and Miss Selfridge brands, while plus-size retailer Evans has already been sold to City Chic Collective, an Australian group.
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